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Work will begin next month on a luxury apartment development in the Grandview Heights area, adding to the rapidly growing number of high-end rentals in urban Columbus.

JSDI Celmark, Ltd., a joint venture between central Ohio developers Solove Real Estate and Celmark Development Group, will build The View on Fifth on W. Fifth and Holly avenues.

The development will include a six-story apartment building on Fifth Avenue with 153 units, most with private balconies. Two-story loft/penthouse suites will occupy the fifth and sixth floors.

Another, three-story, 132-unit apartment building will be built along Holly Avenue.

The developers expect the project to be completed by late summer 2014.

The project will also include 24,700 square feet of retail space as well as 377 spots for parking, “so we’ve allowed for restaurant and retail parking as well,” said Mike Balakrishnan, a principal at JSDI Celmark.

While the developers would not disclose the projected cost of the venture, “it’s up there, it’s not a cheap project,” Balarishnan said. “This is high quality. We’re going to be raising the bar, which we think the market needs. There’s a demand for it.”

Rents will range from $850 for the lower end, one-bedroom units up to $2,000-plus for three- or four-bedroom penthouse units. “That’s actually comparable to what is taking place in and around that area,” Balakrishnan said. “Basically we’re responding to this big demographic shift taking place nationwide. People are moving back to the urban core.”